Gold price today 5/2/2025: Forecast to increase when Fed likely lowers interest rates?

SJC and DOJI gold in Hanoi and Da Nang are listed at 119.3 million VND/tael for buying and 121.3 million VND/tael for selling.

In Ho Chi Minh City, the price of SJC gold on the morning of May 2nd is being bought and sold at the same level as in Hanoi and Da Nang. Thus, compared to the previous closing price, the price of SJC gold remains the same in both buying and selling directions.

The price of gold bars and plain round gold rings at Bao Tin Minh Chau is listed by this enterprise at 116.30 million VND/tael for buying and 119.60 million VND/tael for selling.

SJC gold price list on May 2, 2025

#	Type (thousand VND/tael)	Buy	Sell
1	Ho Chi Minh	119,300+0	121,300+0
2	North	119,300+0	121,300+0
3	Ha Long	117,300+0	120,300+0
4	Hai Phong	119,300+0	121,300+0
5	Central region	119,300+0	121,300+0
6	Hue	119,300+0	121,300+0
7	Quang Ngai	119,300+0	121,300+0
8	Nha Trang	119,300+0	121,300+0
9	Bien Hoa	119,300+0	121,300+0
10	West	119,300+0	121,300+0
11	Bac Lieu	119,300+0	121,300+0
12	Ca Mau	119,300+0	121,300+0

Although there have been many unusual fluctuations recently, overall in April, the world gold price still increased by nearly 6%.

According to the world gold price update as of the evening of May 1 (Vietnam time), the world gold price on May 1 decreased sharply with the spot gold price decreasing by 69.4 USD/ounce, down to 3,205.6 USD/ounce.

Gold futures price for June 2025 delivery on the Comex New York floor is at $3,255/ounce.

The world gold market continued to decline sharply due to the impact of the recovery of the USD and signs of easing US-China trade tensions.

Newly released data showed that US GDP contracted by 0.3% in the latest quarter as many businesses rushed to import goods ahead of US President Donald Trump's tariff measures taking effect.

Expert Tai Wong commented: “The world gold price is still in an upward trend. The latest data shows that the US Federal Reserve (Fed) is getting closer to the possibility of lowering interest rates, which will create many positive developments for the gold price.” Mr. Wong predicted that the world gold price is on track to reach the threshold of 3,500 USD/ounce.

The latest signs show that the US economy is showing signs of weakness, so the Fed will need to resume cutting interest rates. The total estimated interest rate cut by the Fed before the end of this year is about 1%.

Source: https://baohatinh.vn/gia-vang-hom-nay-252025-du-bao-tang-khi-fed-kha-nang-ha-lai-suat-post287045.html